Smart Home Market Revenues Jumped by 16% YoY to $77B Amid COVID-19 Crisis
The global smart home market has witnessed impressive growth in recent years, driven by the growing adoption of smart devices, the increasing need for energy-saving solutions, and the rising importance of home monitoring systems.
According to data presented by Buy Shares, the revenues of the global smart home market jumped by 16 percent year-over-year (YoY) to $77 billion in 2020. The increasing trend is set to continue this year, with smart home revenues growing by 28 percent YoY and reaching $99.5 billion in 2021.